First Tellurium News Release - Closes Third and Final Tranche of PP, Hires IR Consultant and Grants Stock Options
THIS RELEASE IS N NOT FOR DIST TRIBUTION TO O UNITED STA ATES NEWSW WIRE SERVICE ES OR FOR DISSE EMINATION I IN THE UNITE ED STATES
First Tellurium Closes Th hird and Final Tranche of P Private Pl lacement t, Engag ges IR Consultant and Gran nts Stock Options
Vancouver, BC, Canada, January 3, 20
023 – First Te ellurium Corp. (CSE: FTEL, O OTC FSTTF) (t the “Company” or “First Tellurium”) announces it has s closed the th hird and final tranche (the "Third Tranc che") of a non n brokered pr rivate placement (the “Off fering”) previo ously announ nced on Octob ber 16, 2022. The Compan ny has issued 1 1,250,000 units for gross p proceeds of $1 125,000. Tog gether with th he first tranch he closing announced November 17 7, 2022 for $ $404,000 (com mprised of 2,6 600,000 flow through shar res at a price of $0.14 for pr roceeds of $364,000 and 4 400,000 units at $0.10 per unit for proceeds of $40,0 000), the seco ond unced December 20, 2022 for $986,600 tranche clos sing of annou 0 (comprised o of 150,000 flo owthrough 4 for proceeds of $21,000 and 9,656,00 shares at a p price of $0.14 00 units at $0.
.10 per unit fo or proceeds o of $9,656,000)
) and the third d tranche clo osing, the Com mpany has raised a total of f $1,130,600 from the sale e of 10,646,000 units and $38 85,000 from t the sale 2,750 0,000 flow through shares s.
No commiss sions or finde ers fees were paid in conne ection with th he Third Tranche closing.
All securities issued in co onnection wit th the Third Tranche closin ng are subject t to a hold period expiring April 30, 202 23, in accorda ance with app plicable secur rities laws and the policies s of the CSE.
All proceeds s received in connection w with the Offer ring will be ut tilized for exp ploration and other costs associated w with the Company's Deer H Horn and Colorado Klondike properties s, as well as fo or general working cap pital purposes s.
IR Consultant
The Compan gagement of MARS Investo ny also annou unces the eng or Relations Inc. ("MARS")
) to provide es. Under the terms of the agreement, investor rela ations and ad dvisory service , MARS will re eceive cash iod of twelve months and 500,000 ince entive stock options, effect consideratio on of $144,00 00 over a peri tive January 202 23.
Stock Optio on Grant
The Compan ny also annou unces that it h has granted 1 1,200,000 incentive stock o options to a d director and consultants of the Company. Stock options will ve est in accordance with the policies of the CSE at vary ying periods for 10 years at a price of $0.14 per option share, including 500,000 s stock options issued to MA ARS Investor Rel lations Inc.
About First Tellurium Co orp.
| um’s unique | business mod | el is to gene | rate revenue | and value th | rough miner | al discovery, |
| elopment, pr | oject genera | tion and coop | erative acce | ss to untapp | ed mineral re | gions in |
| territory with | sustainable | exploration. |
First Telluriu project deve Indigenous
| tallic (telluriu | m, gold, silv | er copper, tu | ngsten) Deer | Horn Project | in British Co | lumbia and | e |
| luriumgold | property in C | olorado anch | or a diversifi | ed search for | metals, wor | king in allianc | |
| nous peoples | , NGOs, gove | rnments and | leading met | als buyers. Th | is is the futu | re of mineral | |
| : generating | revenue by e | xploring resp | onsibly and l | everaging div | erse partner | ships. |
Our polyme Klondike tel with Indigen exploration
First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.
On behalf of the board of directors of For further information please contact:
First Tellurium Corp.
Tyrone Docherty
604.789.5653 “Tyrone Docherty”
[email protected] Tyrone Docherty President and CEO
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forwardlooking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forwardlooking statements. These forwardlooking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forwardlooking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forwardlooking statements. Except as required by law, the Company does not intend to revise or update these forwardlooking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.